18 December 2018
Commenting on the October 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“In October, the second charge mortgage market recorded its strongest rate of new business volumes growth so far in 2018. With new business volumes up by 5% in the ten months to October 2018, we continue to expect single-digit growth in 2018 overall.”
Table 1: New second charge mortgage lending
|
Oct 2018 |
% change on prev. year |
3 months to Oct 2018 |
% change on prev. year |
12 months to Oct 2018 |
% change on prev. year |
Value of new business (£m) |
104 |
+19 |
285 |
+9 |
1,048 |
+3 |
Number of new agreements (No.) |
2,319 |
+19 |
6,377 |
+12 |
22,932 |
+5 |
Note to editors:
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.
- For media enquiries, please contact the FLA press office on 020 7420 9656.